The crypto world is buzzing about Donald Trump’s new memecoin, $TRUMP, and its record-breaking launch. Many believe his presidency will be a game-changer for crypto, thanks to campaign promises hinting at pro-crypto policies. The $TRUMP coin launch is a sneak peek at that potential.
A Record-Setting Debut
On January 17, 2025, Trump surprised everyone by announcing $TRUMP on X (formerly Twitter). The coin, launched on the Solana network and described as celebrating Trump’s “Courage & Strength,” initially faced skepticism. But after official confirmation, it exploded. Major exchanges like Bybit, KuCoin, and Bitget quickly listed it, sending its value skyrocketing.
While some analysts raised concerns about the initial allocation (80% to the issuers), the buying frenzy continued. At the time of writing, $TRUMP is trading at $42.2, boasting a market cap of $9.39 billion, a fully diluted value of $46.93 billion, and a 24-hour trading volume of $11.24 billion – smashing all previous records for new crypto launches. The demand even boosted Solana’s price to an all-time high above $275.
What’s Next for Crypto?
A president-elect launching a memecoin is definitely unusual, but it strongly suggests a pro-crypto stance. $TRUMP’s success could reignite the bull market, similar to 2021. The launch also highlights the growing link between politics and crypto. Discussions about a Bitcoin reserve and prioritizing US-based digital currencies like Solana and XRP further emphasize the potential impact of digital assets on future financial policy. Interestingly, Bitcoin’s own rally continues, even with the $TRUMP excitement. Bitcoin is trading above $100,000.
